"Strong performance is never an accident. It is born out of strategic thinkingclarity of vision and a powerful mission. At UJAAS our performance and sustainedprofitable growth defines our capacity to deliver superior operations and financialoutcomes over the long term"
It is that time of the year again for me to fulfill the pleasant duty of apprising youof your Companys performance during financial year 2015-16 and how I see it goingforward.
During the year under review your Company has marked an increase of 146% in itsstandalone turnover which is at INR 2771.17 Million (in comparison to FY15) with the NetProfit of INR 208.8 Million for the year ended March 31 2016.
Power is one of the most critical components of infrastructure crucial for theeconomic growth and welfare of nations. The existence and development of adequateinfrastructure is essential for sustained growth of the Indian economy. Electricity demandin the country is increasing rapidly and is expected to rise further in the years to come.Although per capita electricity consumption of India was 1010 KWh in year 2015 which isvery low from global standards. China is having almost 5 times and USA almost 12 timesconsumption. But in renewable energy India took a very good lead and ranks third (3rd)just behind US and China on back of strong focus by the government on promoting renewableenergy and implementation of projects in a time bound manner. The initiative of ourHonble Prime Minister by making India a hub for International Solar Alliance (ISA)with 121 member countries and head quarter in India. This visionary step of our HblePM will bring India in a leadership position for Solar.
During the period beginning from April 2000 to March 2016 the Indian Solar Powerindustry attracted US$ 10.48 billion in Foreign Direct Investment (FDI). The staggeringrepercussions of climate change and countrys strive for affordable energy securityare the driving forces of Indias ambitious drive to change the energy mix in favorof renewable energy sources. The Management envisions leveraging this opportunity to erectand maintain 5 GW of solar power for our clients by 2022. This constitutes 5% of thegovernments total mandate of 100GW.
During the year under review your Company
a) Won tenders from Oil India Ltd. Sardar Sarovar
Nigam Ltd. Airport Authority of India etc.
b) Added more than 30 MW private clients in our parks business. We added another solarpark to our portfolio of parks which now stands at 7 sites spread across Madhya Pradeshand Maharashtra. Your company now manages 145 MW solar power plants which has apredictable operations and maintenance revenue stream locked in for 25 years.
c) Has commissioned over 3690KW of roof top plants till March 2016. We won orders fromhighly reputed PSU clients like Solar Energy Corporation of India (SECI) NFL UPNEDANTPC NALCO IOCL. Marquee clients in the private sectors include RPG Spencers andAvon Cycles.
I and my colleagues in the board are very upbeat about our prospects in the comingyear. Given the opportunities awaiting us and the challenges associated with growingorganization we have chosen to professionalize our management. Mr Manish Agarwal analumnus of IIT Kanpur and IIM Ahmedabad with over 20 years of corporate experience withGlobal companies like Citibank Dell Deloitte has joined as our Chief Operating Officerfrom October 2015. A professional Management will enable the promoters to spend more timeon working out the strategic direction for the company and develop new ideas/products forour esteemed customers. I send my best wishes to Mr Manish and his team.
We look forward to the company delivering superior shareholder returns while meetingour obligations of corporate social responsibility.
Finally I would like to take this opportunity to thank our valued customers ourbankers and our employees for their consistent support. My special thanks to the Board ofDirectors for their conscientious guidance the Companys leadership team for theirenthusiasm and efforts; all of which has contributed to your Companys growth.
|With Best Wishes |
|Shyam Sunder Mundra |
|Chairman & Managing Director |
|Date: 06.08.2016 |